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Gildan to present EPS Guidance at CIBC Conference

Jul '05
Leading premium quality branded activewear manufacturer and marketer Gildan Activewear Inc announced that Glenn J. Chamandy, President and CEO, and Laurence G. Sellyn, Executive Vice President, Finance and CFO, will present an overview of the Company's growth strategy at the CIBC World Markets Annual Consumer Growth Conference to be held in Boston on July 12 and 13. Gildan is scheduled to make its presentation on Wednesday, July 13, beginning at 10:35 a.m. EDT.

At the conference, the Company will indicate that it now expects diluted EPS for the third quarter of the fiscal year, ended July 3, 2005, to be at least 10% above its most recent guidance of approximately U.S. $0.50 per share.

The Company will also indicate that it now expects diluted EPS of approximately U.S. $1.50 per share for the full 2005 fiscal year, before the special charge recorded in the second quarter for the closure of its Canadian yarn-spinning facilities, up from its prior guidance of U.S. $1.40 per share.

The increase in projected EPS in the second half of the fiscal year is due to higher than anticipated selling prices, more favourable product-mix and lower manufacturing costs.

Gildan will release its results for its third fiscal quarter on Wednesday, August 3, 2005, before market open. The earnings release on August 3 will be followed by a conference call at 10:00 a.m. the same day. Details of this conference call will be announced shortly.

The audio portion of Gildan's presentation at the conference will be simulcast online and can be accessed on the Company's Web site, http://www.gildan.com, in the Investor Relations section under "Financial Information & Reports - Presentations and Webcast." A replay of the webcast will be available about three hours after the conclusion of the live presentation on July 13 until August 15.

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